Factors contributing to that growth will be:
- Converted flexible packaging’s superior price/performance profile and versatility.
- Renewed efforts to improve sanitation and extend product shelf lives in the food and beverage, pharmaceutical and personal care markets.
- New developments such as breathable properties, biodegradable films and high-barrier resins.
- Increasing interest in novel value-added features, such as microwaveable pouches, re-sealable stand-up pouches and pouring spouts for use in convenience-oriented processed food, particularly in developed countries.
- Greater urbanisation
According to the report, it is developing nations which will show the biggest growth in demand. It states, “Asia, Latin America, Eastern Europe and the Africa/Mid East region will outpace the global average. Population growth and greater urbanisation (except in Eastern Europe), industrialisation trends and expanding international trade will support advances in these region’s generally under-developed packaging sectors.
China has over taken Japan to become the globe’s second largest converted flexible packaging market after the United States.
Significant growth is predicted for India, which will benefit from strong growth in domestic output and consumer product.
Russian and Indonesia are also likely to show big growth thanks to greater investment in state-of-the-art manufacturing equipment leading to improved product quality.
In developed countries, such as the US, Western Europe and Japan, the rise in demand for plastic films will be limited by the mature state of the packaging market.